Indian government's proposal to impose a 70% safeguard duty on solar cells and modules from China and Malaysia is likely to increase power tariffs to Rs 3.30 per kWh, an increase of 35% from the lowest bid value of Rs 2.44/kWh. The increase will have a negative impact on power producers who have signed low cost power purchase agreements and may further stall under-construction projects for which all the required solar panels were not imported. Experts believe around 3000 MW to 4000 MW of new capacity, auctioned in 2017 will be impacted due to the proposed safeguard duty as solar cells and modules account for 60% of the total project cost. Read More

Tech Mahindra announces Rs 1,956-cr share buybackIT firm Tech Mahindra on Thursday announced a Rs 1,956-crore buyback of its shares at Rs 950 apiece, a 14.59 per cent premium over the current trading price. The share buyback proposal has been approv